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News : Prepaid Credit Card UK
Tips to protect your credit card and your credit standing
Thursday, 12 Jun 2008
Ever worry your credit has been compromised? Maybe someone got a hold of your credit card number or you've turned to a lending organization for help that throws in hidden charges and fees. Studies show ten percent of Americans will be the victim of credit card fraud, but there are ways you can protect yourself and your credit's good standing.
Mobile resident Kenneth Shirah said he doesn’t think credit card theft is that big of a problem in the South.
Think again, recently a Biloxi woman was charged with stealing her grandmother's identity and racking up 60 thousand dollars in credit card debt.
Mobile resident William Martin knows first hand how it feels to be the victim of credit card fraud. “Yes, someone wrote down my credit card number when we went out to eat… and they charged a bunch of stuff online.” said Martin.
Now Martin is extra careful when choosing credit to pay for something. "I try to pay cash if I can, but if I use credit card, take my receipt and check with bank to make sure haven't been used over and over again," said Martin.
Experts said that's exactly the thing to do; as well as sign all your cards, report questionable charges and keep an eye on your card during transactions. Another thing to keep in mind when it comes to your credit is to protect yourself from predatory lenders.
"Typically, predatory lender maybe the most friendly lender that you run into," said Scott Hehman, with the Consumer Credit Counseling Service. Hehman added, some people get into a situation where they think going to a lender is the only option, but end up in worse financial shape than when they started.
Hehman recommends “doing a monthly budget and see if you can reduce your expenses, to cover rising cost of fuel, gas and food," Hehman. Then you won’t need those credit cards.
The Consumer Credit Counseling Service recommends keeping at least five hundred dollars in a savings account.
Source: http://www.myfoxgulfcoast.com
